Standard&Poor's Affirms 'BBB/A-3' Rating on Bulgaria, Stable Outlook
Thursday, 01 January 1970
Rating agency Standard&Poor's affirmed the long- and short-term foreign- and local-currency sovereign credit ratings of Bulgaria at BBB/A-3.
The outlook is stable and the transfer and convertibility (T&C) assessment is 'A', the agency said in a statement.
"The ratings on Bulgaria reflect our view of the government's strong track record of appropriate fiscal policy and low gross and net general government debt," the statement added.
Bulgaria's medium-term growth prospects are seen as solid although the agency warned of a likely economic slowdown next year.
Standard&Poor's expects the country's growth rate to slow to 1.5% in 2012 from 2.0% this year, which is below the Bulgarian government's budget projections for 2.3% growth.